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Citi Strategists Say Buy Dips in Global Stocks on Solid Earnings

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Bloomberg,Corporate Earnings,Beata Manthey

(Bloomberg) -- Global equities are more attractive after the recent rout removed market froth and as investors focus on robust corporate earnings, according ...

-- Global equities are more attractive after the recent rout removed market froth and as investors focus on robust corporate earnings, according to Citigroup Inc. strategists.“We would view the recent pullback as a buying opportunity,” the team including Mihir Tirodkar and Beata Manthey wrote in a note. “Bullish positioning has unwound and now looks more neutral, particularly in the US. The current earnings season could re-focus investor attention on solid underlying fundamentals.

Market forecasters at JPMorgan Chase & Co. have a contrarian view to the Citigroup team. Strategist Marko Kolanovic said on Monday that the selloff was likely to deepen along with mounting macroeconomic risks, including rising Treasury yields, a strong dollar and elevated oil prices. Morgan Stanley’s chief European equity strategist, Marina Zavolock, is also bullish on regional stocks. In a note, she said that the recent declines in Europe resemble the market action in 1995, when investors had reduced bets on Federal Reserve rate cuts amid strong economic data. Ultimately, the Stoxx Europe 600 Index rallied 13% that year.What Really Happens When You Trade In an iPhone at the Apple StoreTrump Media's DJT stock price has plunged since its SPAC merger.

"Equities had a strong first quarter 2024, so the fact that stocks are consolidating and even drifting lower is not entirely a surprise."Consider buying Parkland Fuel stock and another top dividend play on their recent corrections. The post Buy the Dip: 2 Strong TSX Stocks That Recently Went on Sale! appeared first on The Motley Fool Canada.

 

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